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Hong Kong's unemployment dropped to a 56-month low of 5.1 percent in the period from February to April, the city's Census and Statistics Department said on Thursday.

 

The seasonally adjusted unemployment rate declined from 5.2 percent in the period of January to March to 5.1 percent from February to April, according to the latest labor-force statistics from the department.

 

Falls in the jobless rate were seen mainly in the sectors of decoration and maintenance, insurance, and retail trade.

 

However, the same period witnessed the underemployment rate of the Hong Kong Special Administrative Region rising from 2.3 percent to 2.4 percent, according to the statistics.

 

The increases in the underemployment rate were concentrated in manufacturing, hotels and education services.

 

Looking forward, the authorities expected a stable job market, but noted that the near-term outlook depends on the overall economic growth.

 

The pace of job creation in the private sector is also key to cutting down unemployment rate, especially during the summer months, for absorbing fresh graduates and school leavers, said a statement by the department.

 

(Xinhua News Agency May 19, 2006)